The RealReal Becomes First Resale Company To Join United Nations Global Compact

Rhea-AI Summary

The RealReal (Nasdaq: REAL) has joined the UN Global Compact, enhancing its commitment to sustainability and social responsibility. This initiative aligns with The RealReal's mission to promote a circular economy in the luxury goods market. The company has previously committed to becoming carbon neutral by 2021 and has partnered with notable brands like Burberry to foster sustainable practices. Additionally, The RealReal aims to advance diversity in fashion through various partnerships and board appointments.

Positive

• Joining the UN Global Compact reflects a commitment to sustainability and social responsibility.
• Pledging to go carbon neutral in 2021 as part of the CEO Carbon Neutral Challenge.
• Partnerships with brands like Burberry and Stella McCartney to promote a circular economy.
• Launching the TRR Sustainability Calculator to quantify the positive environmental impact of consignment.

Negative

• None.

SAN FRANCISCO, Sept. 02, 2020 (GLOBE NEWSWIRE) -- Today, The RealReal (Nasdaq: REAL)—the world’s largest online marketplace for authenticated, consigned luxury goods—announced it is joining the United Nations (UN) Global Compact, the world’s largest corporate sustainability initiative. Alongside thousands of global brands (including fashion industry heavyweights such as Burberry, Hermes, Kering and LVMH), The RealReal will uphold and implement the UN Global Compact’s 10 universally accepted principles related to human rights, labor, environment and anti-corruption into its overall strategy and operations.

“We share the common belief with the UN Global Compact that business should be a force for good,” said Julie Wainwright, CEO of The RealReal. “Joining this group of leaders from so many sectors will help us continue expanding our work beyond the fashion industry to advocate for all businesses to hold themselves to the highest standards of environmental and social consciousness.”

The RealReal’s mission to empower consignors and buyers to extend the life cycle of luxury goods aligns closely with the principles of the UN Global Compact, as well as the UN’s broader development goals to achieve a better and more sustainable future for all. The UN Global Compact is the most recent of many initiatives The RealReal has undertaken to help create a more sustainable and diverse future, including:

• Pledging to go carbon neutral in 2021 as part of Gucci CEO Marco Bizarri’s CEO Carbon Neutral Challenge
• Forging partnerships with luxury brands such as Burberry and Stella McCartney to promote the circular economy
• Joining the UN Climate Change Fashion Industry Charter for Climate Action
• Launching the first-of-its-kind TRR Sustainability Calculator to quantify the positive environmental impact of consignment
• Partnering with Black Girls CODE to support and help fund the expansion of their work to increase women of color in STEM fields
• Joining the Black in Fashion Council to drive representation of Black fashion individuals in the industry
• Partnering with the Black Retail Action Group (BRAG) to help educate and prepare Black students for retail leadership roles
• Appointing two women to its Board of Directors making it 50 percent female

For more information about The RealReal’s sustainable and social efforts, please visit its Social Impact site.

About The RealReal, Inc.
The RealReal is the world’s largest online marketplace for authenticated, consigned luxury goods. With a rigorous authentication process overseen by experts, The RealReal provides a safe and reliable platform for consumers to buy and sell their luxury items. We have 150+ in-house gemologists, horologists and brand authenticators who inspect thousands of items each day. As a sustainable company, we give new life to pieces by hundreds of brands, from Gucci to Cartier, supporting the circular economy. We make consigning effortless with free in-home pickup, drop-off service, virtual appointments and direct shipping for individual consignors and estates. At our stores in LA, NYC and San Francisco, customers can shop, consign, and meet with our experts. At our 10 Luxury Consignment Offices, four of which are in our retail stores, our expert staff provides free valuations.

Press Contact:
Erin Santy
Head of Communications
pr@therealreal.com

Investor Relations Contact:
Paul Bieber
Head of Investor Relations
paul.bieber@therealreal.com

FAQ

What is the significance of The RealReal joining the UN Global Compact?

The RealReal's joining the UN Global Compact signifies its commitment to sustainability and social responsibility, aligning its operations with global principles on human rights and environmental practices.

What initiatives is The RealReal undertaking for sustainability?

The RealReal is committed to going carbon neutral by 2021, partnerships with luxury brands to promote the circular economy, and launching the TRR Sustainability Calculator to measure environmental impact.

How does The RealReal promote diversity in the fashion industry?

The RealReal promotes diversity through partnerships with organizations like Black Girls CODE and the Black in Fashion Council, as well as appointing women to its Board of Directors.

What are the main goals of the UN Global Compact that The RealReal supports?

The RealReal supports the UN Global Compact's 10 principles related to human rights, labor, environment, and anti-corruption.